Edgars (department store)

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Edgars store entrance in the former Stuttafords buildings, St. George's Mall of Adderley Street, Cape Town CBD

Edgars is a Johannesburg-based chain of stores, nearly all in Southern Africa, variously described as a specialty department store or simply as stores selling clothing, shoes, homeware & beauty products. The chain has just over 200 stores as of July 2020, with multiple stores in South Africa, Namibia, Zambia and Botswana as well as in the capital cities of eSwatini (Swaziland), Lesotho, and Ghana.[1] It was founded in Johannesburg, South Africa in 1929. It is owned by Edcon, which is looking for a buyer due to economic difficulties stemming from the COVID-19 pandemic.[2]

Edgars Stores Limited is a separate company operating the businesses in Zimbabwe: Edgars and Jet department stores, as well as Edgars Financial Services and Carousel, its Bulawayo-based manufacturing arm.[3]

History[]

As part of Edcon, Edgars was included in an ill-fated buyout by U.S. private equity firm Bain Capital Private Equity LP in 2007, which burdened the parent company with debt just as the economy hit a downturn following the global financial crisis. In June 2020 Edcon put the chain up for sale.[2] 7 July 2020 it was announced that Edcon has signed an agreement to sell the chain to Durban-based , which operates 460 stores across Southern Africa and is the owner of brands Legit, Beaver Canoe, and Style. Edcon had sold Legit to Retailability four years prior.[4][5]

In 2014 Edgars opened at a new 50,000 square meter shopping centre in Nairobi, Kenya.[6] In 2018 Edgars introduced a new, larger 8,000 square meter store in Fourways Mall in Johannesburg, featuring trees, play areas, a coffee shop, “beauty rooms” where customers can get makeovers, and a section that allows customers to print their own text or images on clothing. Edgars promoted the new prototype store design as "a bit like a town square, a multi-sensory, tree-lined central social space".[7]

In January 2020 it announced it would close its 6,000 square meter store in the upscale in Johannesburg suburb Rosebank.[8]

In Zimbabwe[]

Edgars entered the Southern Rhodesia (now Zimbabwe) market in 1946. It was listed on the Southern Rhodesian Stock Exchange, now the Zimbabwe Stock Exchange in 1974. in 2011 it opened a new store in mall in Harare. A store opened in Kadoma in 2019.[9]

There are four Edgars-branded stores in Harare: , , and in Borrowdale, Robert Mugabe at Angwa, as well as a store in Masvingo.

References[]

  1. ^ "Stores", Edgars website, accessed July 7, 2020
  2. ^ a b Bowker, John. "Edgars On Auction Block After 91 Years of South African Trading". Bloomberg.
  3. ^ Edgars (Zimbabwe) official website
  4. ^ "Edcon agrees to sell stake in Edgars to rival". BusinessTech (South Africa). 7 July 2020. Retrieved 7 July 2020.
  5. ^ Kronje, Jan (7 July 2020). "Pieces of fashion retailer, Edgars, set to be sold off". Fin24. Retrieved 7 July 2020.
  6. ^ "SA’s fashion chains Foschini and Edgars to open in Nairobi", Business Daily Africa, 22 January 2013
  7. ^ Wasserman, Helena (August 27, 2019). "TAKE A LOOK: The first 'new' Edgars store has play areas, personal shoppers and a section where you can print your own t-shirt". Business Insider (South Africa). Retrieved 7 July 2020.
  8. ^ Mike Simpson, "Edgars Rosebank closure another sign of SA’s changing retail environment", The South African, 13 January 2020
  9. ^ Gorwe, Fradreck (6 December 2019). "Did you know? Edgars store's history". Business Daily (Zimbabwe).

External link[]

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